NuLoch Resources Inc.
TSX VENTURE : NLR.A
TSX VENTURE : NLR.B

NuLoch Resources Inc.

March 14, 2008 14:13 ET

NuLoch Expands Previously Announced Equity Financing

CALGARY, ALBERTA--(Marketwire - March 14, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

NuLoch Resources Inc. (TSX VENTURE:NLR.A)(TSX VENTURE:NLR.B) (the Company) announces it has expanded its planned, "best efforts", private placement equity issue announced March 3, 2008 by $2.0 million. Gross proceeds that may be raised pursuant to its agreement with GMP Securities LP (the Agent) now totals $10.0 million. Certain details in respect of the pricing of common shares and flow-through common shares and maximum numbers of common shares and flow-through common shares that may be issued have been adjusted.

Up to 3,334,000 Class A flow-through common shares will be issued at a price of $1.20 per share and up to 6,316,000 Class A common shares will be issued at a price of $0.95 per share.

Completion of this transaction is subject to receipt of all necessary regulatory approvals and is expected to close on or about March 27, 2008. The shares issued will be subject to a four month hold from the date of closing.

Net proceeds from this offering will be used to finance NuLoch's capital program and for general corporate purposes.

Upon completion of this financing, and assuming it is fully subscribed, NuLoch will have approximately 30,779,695 Class A common shares and 652,500 Class B common shares issued and outstanding.

The Class A common shares of NuLoch have not and will not be registered under the United States Securities Act of 1933 as amended (the U.S. Securities Act) or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Forward-Looking Statements

Certain information in this document contains forward-looking statements in respect of events that are subject to numerous risks and uncertainties. No assurance can be given that events anticipated by the forward-looking statements will occur or as to what benefit the Company may derive therefrom.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • NuLoch Resources Inc.
    R. Glenn Dawson
    President and CEO
    (403) 920-0455
    (403) 920-0457 (FAX)
    Email: nuloch@nuloch.ca
    or
    NuLoch Resources Inc.
    2200, 444 - 5th Avenue SW
    Calgary, Alberta T2P 2T8